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gift in kind

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Gifting to NRIs: Shares & Money Transfer Rules

Income Tax : Explore the guidelines for gifting shares and money from residents to non-resident relatives under FEMA and LRS, ensuring complian...

February 26, 2024 1632 Views 0 comment Print

Format of Gift Deed

Income Tax : Explore the intricacies of a Gift Deed, detailing the transfer of shares with love and affection. Understand the legalities, assur...

February 2, 2024 6765 Views 0 comment Print

Are gifts received from relatives on Diwali subject to taxation?

Income Tax : Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset consideration...

November 7, 2023 2400 Views 0 comment Print

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

Income Tax : Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 reli...

November 3, 2023 16530 Views 0 comment Print

Taxability of Gifts in the Hands of Recipients Simplified

Income Tax : Learn about gift tax rules in India, including exemptions, taxability, and the impact on recipients. Get insights into tax-saving ...

October 21, 2023 10827 Views 9 comments Print


Latest News


Ancestral family property can be ‘gifted’ away : Bombay HC

Finance : he Bombay High Court ruled on Wednesday that no part of an ancestral family property can be ‘gifted’ away. The court in a land...

March 19, 2010 5821 Views 0 comment Print

Affidavit must for gift in kind, over Rs. 50,000, from relatives

Income Tax : From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have...

October 23, 2009 4261 Views 0 comment Print


Latest Judiciary


No capital Gain Tax on Gift of Immovable Property to Sister

Income Tax : From gift deed it is crystal clear that the said property was gifted by assesee to his sister out of natural love and affection an...

May 5, 2023 3198 Views 0 comment Print

Validity of Reassessment to verify genuineness of gift based on Assessment of relatives

Income Tax : While deleting an addition made in respect of undisclosed income, the Delhi bench of the ITAT held that the gift received by the a...

November 19, 2017 1683 Views 0 comment Print

Addition cannot be made for invalid gift of immovable property

Income Tax : If the gift is invalid then the assessee is not even owner of any property and therefore, no question arises for making addition ...

November 5, 2017 1608 Views 0 comment Print

Gift received from a HUF by a member of HUF is exempt from tax

Income Tax : Relative explained in Explanation to section 56(2)(vi) of the Act includes relatives and as the assessee received gift from his HU...

May 20, 2017 66912 Views 2 comments Print

Addition justified for Failure to prove genuineness of gifts received

Income Tax : The assessee in order to draw benefit of the exemption under Proviso to section 56(2)(vi) of the Act was required to prove that th...

July 13, 2016 1680 Views 0 comment Print


Latest Notifications


CAs cannot do Valuation of unquoted equity shares under DCF method

Income Tax : Amendment in Rule 11U and 11UA omitting reference to the term accountant, thereby permitting only merchant bankers to determine th...

May 24, 2018 93624 Views 0 comment Print

Gifts of property (gifts-in-kind) above value of rs.50,000 become taxable from 1st October 2009

Income Tax : The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an im...

October 1, 2009 2395 Views 0 comment Print


Latest Posts in gift in kind

Gifting to NRIs: Shares & Money Transfer Rules

February 26, 2024 1632 Views 0 comment Print

Explore the guidelines for gifting shares and money from residents to non-resident relatives under FEMA and LRS, ensuring compliance with Indian regulations.

Format of Gift Deed

February 2, 2024 6765 Views 0 comment Print

Explore the intricacies of a Gift Deed, detailing the transfer of shares with love and affection. Understand the legalities, assurances, and the absolute ownership bestowed upon the Donee in this comprehensive guide.

Are gifts received from relatives on Diwali subject to taxation?

November 7, 2023 2400 Views 0 comment Print

Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset considerations that can impact your festive generosity.

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

November 3, 2023 16530 Views 0 comment Print

Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 relief provisions.

Taxability of Gifts in the Hands of Recipients Simplified

October 21, 2023 10827 Views 9 comments Print

Learn about gift tax rules in India, including exemptions, taxability, and the impact on recipients. Get insights into tax-saving options.

Taxation on Gifts under Income Tax Act, 1961- An In-depth Summary

August 14, 2023 4482 Views 0 comment Print

Explore the rules and regulations surrounding gift taxation in India. Learn about taxable gifts, exemptions, and ways to comply with the Income Tax Act.

Taxability of Gift received by an individual or HUF with FAQs

July 24, 2023 358197 Views 60 comments Print

Learn about the tax implications of monetary and movable gifts received by individuals or Hindu Undivided Families (HUFs). Understand the exemptions and conditions for tax liability. Read more!

No capital Gain Tax on Gift of Immovable Property to Sister

May 5, 2023 3198 Views 0 comment Print

From gift deed it is crystal clear that the said property was gifted by assesee to his sister out of natural love and affection and it was in this back drop that assessee claimed before CIT(A) that incidence of transfer of immovable property was not liable to tax in his hands.

Taxation of Gifts: An In Depth Analysis

December 25, 2022 23049 Views 2 comments Print

Gifts in India are cultural aspects handed down from generations. Learn the in-depth analysis of taxation of gifts and how lawmakers are trying to tackle the issue. 

Best thing to Gift Loved ones & its Taxability as per Indian Laws

February 7, 2022 18555 Views 1 comment Print

It is the season of festivals and gifting to our near and dear ones is customary. Gifting is a way to show that you care about someone. Gifts can be in the form of money, immovable property, movable property such as Gold, shares, etc. Suppose, you want to gift your sister a perfect wedding gift. […]